Lanvin Group (LANV) Debuts on NYSE under Ticker "LANV"

Lanvin Group (the "Group"), a global luxury fashion group, and Primavera Capital Acquisition Corporation (NYSE: PV) ("PCAC"), today announced the completion of their business combination and the listing of the shares and warrants of Lanvin Group Holdings Limited ("LGHL") under the new ticker symbols "LANV" and "LANVW." The proceeds of the transaction will be used to accelerate the organic growth of the Group's brand portfolio and to fund strategic acquisitions that enrich its luxury fashion portfolio.

Ms. Joann Cheng, Chairman and CEO of Lanvin Group, said: "Listing on the NYSE today marks an important milestone in our strategy to build a portfolio of iconic luxury fashion brands. The Group's rapidly improving performance in recent years has demonstrated the strength of our global platform and the success of our innovative growth strategy.

"Notwithstanding the market environment, we are particularly pleased by the strength of support and the validation of our strategy we have received from numerous new strategic investors since the plan to list was first announced in March. Together with our brands and partners, we are confident in delivering significant upside potential and long-term value for our shareholders as we continue to solidify our foundation in Europe and capture the many as-yet untapped opportunities in the North American and Asian markets."

The transaction received strong support from a roster of investors ahead of the listing, including an aggregate US$193 million of fully committed PIPE subscription and forward purchase from Fosun International Limited, ITOCHU Corporation, Stella International Limited, Baozun Hong Kong Investment Limited, Golden A&A, Handsome Corporation and Aspex Master Fund. As announced previously, Fosun Fashion Holdings (Cayman) Limited also upsized its PIPE subscription investment from $38 million to approximately US$133 million, including the conversion of approximately US$95 million in existing shareholder loans and accrued interest into equity. In addition, Meritz Securities Co., Ltd made a US$50 million equity investment in the Group in a private placement.

She continued, "We have ambitious plans for the future. With over US$150 million raised in cash proceeds and no debt at the Group level, we are now more than ever well-positioned to accelerate growth across our portfolio with our unique proposition to transform heritage for tomorrow's customers."

Mr. Max Chen, Chairman and CEO of PCAC, and Partner of Primavera Capital, who has joined the LGHL's Board of Directors, said: "We are proud to partner with Lanvin Group as LGHL moves forward as a public company. We are confident the Group will further develop its fast-growing global business to become a unique global luxury powerhouse by leveraging the rich heritage of its brand portfolio and its differentiated business strategy. We look forward to working together with the management team to support the growth of the company's top-class luxury brands and create long-term value for shareholders."

Building on its strong momentum in recent years, the Group strives to continue to drive the long-term sustainable growth of its portfolio brands through product category innovation, global retail expansion, and digital transformation. The Group will also leverage the expertise and resources of its strategic alliance of industry-leading partners along the luxury fashion value chain, coupled with its unparalleled access to the fastest-growing luxury fashion markets, to support the brands' development across the world.

In the first six months of 2022, the Group recorded revenue of €202 million, representing industry-leading growth of 73%, compared to the same period in 2021, underscoring the success of its growth strategies.

Advisors

Cantor Fitzgerald & Co. is acting as exclusive financial advisor to Lanvin Group. Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are acting as joint capital market advisors to Primavera Capital Acquisition Corporation. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Cantor Fitzgerald & Co. are acting as joint placement agents on the PIPE.

DLA Piper is serving as legal advisor to Lanvin Group. Simpson Thacher & Bartlett LLP and Davis Polk & Wardwell LLP are serving as legal advisors to PCAC. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to the joint placement agents.

Notes to Editor

The Group manages a portfolio of five iconic heritage brands:

• Founded in 1889, Lanvin is the oldest operating French couture house. Building on its rich legacy, the brand has further deepened its presence in the fast-growing North American and Asian markets through retail expansion and digital transformation. A reimagined global product and merchandising strategy brings new focus to an elegant, avant-garde silhouette and attitude. The recent launch of the "Lanvin Character Studies" image campaign – a reflection on what Jeanne Lanvin called 'the ultimate chic' – underscores this evolution, marking a fundamental shift in visual aesthetics as the house prepares for its next chapter of growth.
• Wolford, established in Austria in 1950, is one of the world's leading brands and manufacturers of women's skinwear in the upper premium segment. Having created the world's first seamless nylon stockings in 1954, the hosiery specialist has continued to champion innovation and ventured into bodywear and athleisure with the introduction of The W collection in 2020. In recent years, it has launched acclaimed collaborations with Amina Muaddi, Alberta Ferretti, GCDS, Mugler and Sergio Rossi, among others.
• Sergio Rossi is an Italian luxury shoemaker with exquisite know-how and heritage in footwear. In 2022, the made-in-Italy luxury brand joined hands with Area NYC and Wolford to launch exclusive capsules that showcased a synergy of expertise enhanced by modernity and innovation. It was also the Group's first brand to have successfully transitioned onto the Group's new shared digital platform powered by Shopify's technologies in North America.
• St. John is an American luxury house founded in 1962 on the premise of a simple, elegant, and versatile knit dress. The Southern California-based brand has evolved over the years, but the foundation of the collection remains the same today as it did from the very start – great American design, understated and timeless elegance, unsurpassed quality, and craftsmanship that has remained synonymous with powerful women doing the exceptional.
• Founded by a Neapolitan tailor more than 60 years ago, Caruso has grown to become the reference player for luxury tailoring development and production and a long-term partner of the most iconic French, Italian and American Maisons. The company's own brand, Caruso, is the pinnacle of its know-how, coupled with a Playful Elegance approach to menswear that has conquered loyal customers around the world through more than 200 exclusive luxury stores. Playful Elegance is proudly Made-in-Italy but knows no borders.
• With over 390 years of combined history, these five brands have far-reaching global presence, operating in more than 80 countries with approximately 1,200 points of sales, 3,600 employees and over 300 retail stores across the world.

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